Global Chickpeas Market Outlook
According to a new report by Expert Market Research titled “Global Chickpeas Market Size, Share, Analysis, Report, Demand, Forecast 2024-2032″, the global chickpeas market grew substantially in 2023. Aided by the rising demand for plant-based proteins and the versatility of chickpeas in culinary applications, the market is projected to further grow at a CAGR of 1.3% between 2024 and 2032.
Chickpeas, also known as garbanzo beans, are a type of legume that has been a staple in various global cuisines for centuries. They are highly nutritious, rich in protein, fibre, vitamins, and minerals, making them an excellent food choice for health-conscious consumers. Chickpeas’ culinary flexibility is evident in their ability to be used in salads, soups, spreads, and as a base for meat substitutes, highlighting their adaptability in both traditional and innovative recipes.
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One of the key factors driving the global chickpeas market growth is the surging demand for plant-based foods. With a growing segment of the population adopting vegan and vegetarian diets due to health, ethical, or environmental reasons, chickpeas have become a popular alternative to animal proteins. This shift in dietary preferences is prompting food manufacturers to innovate and expand their chickpea-based product offerings, ranging from hummus and falafel to plant-based burgers and meat alternatives.
The health benefits associated with chickpeas also contribute to the global chickpeas market demand. Chickpeas are known for their role in weight management, blood sugar regulation, and heart health, attributed to their high fibre and protein content. Additionally, they are a low-glycaemic food, making them a suitable dietary option for individuals managing diabetes.
Chickpeas are also finding increasing applications in the gluten-free market. As awareness and diagnosis of gluten-related disorders rise, the demand for gluten-free food products is burgeoning. Chickpea flour, known for its versatility and nutrient-rich profile, has become a preferred ingredient in gluten-free baking and cooking, further influencing the chickpeas market outlook.
Furthermore, the environmental sustainability of chickpeas is a factor that resonates with environmentally conscious consumers. Chickpeas require relatively low water usage and contribute to soil health through nitrogen fixation, making them an environmentally sustainable crop. This aspect aligns well with the increasing consumer preference for sustainable and eco-friendly food products.
Market Segmentation
The market can be divided based on region.
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global chickpeas market. Some of the major players explored in the report by Expert Market Research are as follows:
- AGT Food and Ingredients
- BroadGrain Commodities, Inc.
- The Wimmera Grain Store
- Others
Frequently Asked Questions – Chickpeas Market
1. What Is the Predicted Growth Rate of the Market?
The market is anticipated to register a projected Compound Annual Growth Rate (CAGR) of 1.3% during the period spanning from 2024 to 2032.
2. What Factors Significantly Contribute to Market Growth?
Market expansion is substantially fueled by several factors, including the increasing awareness of the health benefits associated with the product, such as its role in maintaining optimal sugar levels, escalating disposable incomes, a burgeoning global population, and evolving dietary preferences.
3. What Noteworthy Trends Are Shaping the Chickpeas Market?
A pivotal trend influencing the market’s trajectory involves the rise of vegetarian meat substitutes, where chickpeas are utilized to produce textured protein, aligning with the growing demand for plant-based protein alternatives.
4. Which Regions Stand Out as Major Markets for Chickpeas, According to the Market Report?
The major market regions include North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, each contributing significantly to the overall market landscape.
5. Who Are the Key Market Players, According to the Report?
Prominent entities shaping the market landscape encompass AGT Food and Ingredients, BroadGrain Commodities, Inc., and The Wimmera Grain Store, among other key players highlighted in the comprehensive market report.
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